RCBC Solar Loan: Financing Home Solar
TL;DR
RCBC funds home solar through standard consumer lending — a personal loan, or borrowing secured against property — rather than a dedicated solar product. Compare the total repayable against Pag-IBIG and installer financing, and against what solar actually takes off your monthly bill.
RCBC funds home solar the way most Philippine commercial banks do — through standard consumer lending rather than a purpose-built solar product. You borrow, you declare the purpose, and you pay the installer.
So the real decision is not which bank has the best-named product. It is which structure fits, and whether the total cost beats the alternatives.
This guide quotes no rates deliberately. Bank pricing changes and depends on your profile. Get a written quotation from RCBC showing the effective rate and the total repayable over the full term.
The structures available
Unsecured personal loan. No collateral, quickest to arrange, priced higher because the bank carries the risk. Terms are usually shorter, so the monthly payment is larger but the total interest is generally lower than a long secured loan.
Secured against property. Cheaper and longer, at the cost of pledging your home and a slower process involving valuation.
Installer in-house plans. Not a bank product, but the option you are really choosing between. Convenient and often quick; the effective cost is sometimes higher than it appears because it is bundled into the system price rather than stated as a rate. Our solar financing options guide covers how to unpick that.
Borrow against a firm quotation
Work out the amount from an itemised quote, not a rough figure:
| System size | Typical installed cost |
|---|---|
| 2kW | ₱130,000-175,000 |
| 3kW | ₱150,000-250,000 |
| 5kW | ₱250,000-400,000 |
| 6kW | ₱300,000-450,000 |
The costs most often missing from an initial estimate are net metering fees and the bidirectional meter, permits, and any structural work the roof turns out to need. See net metering cost and solar permits and requirements for what should be in the quote before you fix a loan amount.
Application checklist
- Valid ID and proof of address
- Payslips and certificate of employment, or ITR and financial statements for the self-employed
- Recent bank statements
- Property documents, for secured borrowing
- Itemised installer quotation
- Recent electricity bill
Compare the cheaper doors first
Pag-IBIG generally prices below commercial banks for home improvement purposes, and over a multi-year term the gap is worth real money. Check eligibility before defaulting to a bank — Pag-IBIG solar loan. Government employees should also compare the GSIS Ginhawa loan.
Where banks genuinely win: speed, amounts or purposes outside those schemes, and serving anyone not eligible for them.
Does financing solar make sense at all?
The test is simple and worth doing before you apply rather than after.
Compare the monthly repayment to the monthly electricity saving. A correctly sized system commonly removes around 90% of a bill — fixed charges remain, and night-time consumption still comes from the grid unless you add a battery.
Where the repayment sits below the saving, you are cash-flow positive from the first month and you own an asset that keeps producing for around 25 years after the loan ends. Where it sits above, the deal can still be sound, but you are funding a long-lived asset from current income and should decide that deliberately. Buy vs finance solar covers both paths, and payback period shows how interest shifts break-even.
Whatever you decide, get the total repayable from at least two lenders. That number, not the advertised rate and not the monthly payment, tells you which offer is actually cheaper.
Frequently asked questions
Does RCBC have a solar loan?
Not as a distinctly branded consumer product in most cases. Homeowners typically use a personal loan or a facility secured against property, declaring solar as the purpose. Check current offerings with RCBC directly, since bank product lines change.
What will it cost to borrow?
That depends on the product, term, whether it is secured, and your credit profile. Ask for a written quotation stating the effective interest rate and the total amount repayable. Treat any rate published in an article as out of date by default.
Can I borrow enough for a full system?
Yes. Typical Philippine residential systems run roughly ₱150,000 to ₱450,000 installed, comfortably within normal consumer lending. Your personal limit depends on income and existing debts.
What do I need to apply?
Valid ID, proof of income such as payslips or an ITR, and recent bank statements. Secured loans additionally need property documents. Most lenders also ask for the installer's quotation and a recent electricity bill.
Is a bank loan cheaper than installer in-house financing?
Often, but not always. In-house plans are convenient and their true cost is sometimes buried in the headline price of the system. Ask both for the total amount repayable and compare that single figure.
How does this compare to Pag-IBIG?
Pag-IBIG is usually cheaper for eligible members because its rates sit below typical commercial pricing. Banks compete on speed and on serving people who are not eligible or need terms outside those schemes.